{"id":740135,"date":"2023-03-15T06:03:14","date_gmt":"2023-03-15T10:03:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/portland-aluminium-joint-venture-in-australia-to-reduce-production\/"},"modified":"2023-03-15T06:03:14","modified_gmt":"2023-03-15T10:03:14","slug":"portland-aluminium-joint-venture-in-australia-to-reduce-production","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/portland-aluminium-joint-venture-in-australia-to-reduce-production\/","title":{"rendered":"Portland Aluminium joint venture in Australia to reduce production"},"content":{"rendered":"

<\/p>\n

Portland Aluminium joint venture in Australia to reduce production<\/b><\/p>\n

PITTSBURGH–(BUSINESS WIRE<\/a>)–
\nAlcoa Corporation (NYSE: AA) today announced that the Portland Aluminium smelter in the state of Victoria in Australia will begin to immediately reduce its overall production due to operational instability.\n<\/p>\n

\nProduction at the smelter will be reduced to approximately 75 percent of the site\u2019s total consolidated capacity of 358,000 metric tons per year (mtpy). Alcoa\u2019s share of the total capacity is 197,000 mtpy. The smelter, which has a total of 408 pots, had previously been operating at about 95 percent of its total capacity.\n<\/p>\n

\nThe smelter has recently faced instability and challenges related to the production of rodded anodes, which are necessary to convey electricity into the smelting pots.\n<\/p>\n

\n\u201cOur teams are focused on safely taking the production offline and working to restore stability across the facility,\u201d said Bill Oplinger, Executive Vice President and Chief Operations Officer. \u201cCompleting this task in a controlled fashion is our priority as we work to improve operations.\u201d\n<\/p>\n

\nPortland Aluminium is an unincorporated joint venture taking in Alcoa of Australia Limited (55 percent), CITIC Nominees Pty Ltd (22.5 percent), and Marubeni Aluminium Australia Pty Ltd (22.5 percent). Alcoa of Australia Limited is owned by Alcoa Corporation (60 percent) and Alumina Limited (40 percent).\n<\/p>\n

About Alcoa Corp.<\/b><\/p>\n

\nAlcoa (NYSE: AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability and stronger communities wherever we operate.\n<\/p>\n

Dissemination of Company Information<\/b><\/p>\n

\nAlcoa Corporation intends to make future announcements regarding company developments and financial performance through its website at www.alcoa.com<\/a>, as well as through press releases, filings with the Securities and Exchange Commission, conference calls and webcasts.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains statements that relate to future events and expectations, and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as \u201caim,\u201d \u201cambition,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201ccould,\u201d \u201cdevelop,\u201d \u201cendeavors,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cforecasts,\u201d \u201cgoal,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201coutlook,\u201d \u201cplans,\u201d \u201cpotential,\u201d \u201cprojects,\u201d \u201creach,\u201d \u201cseeks,\u201d \u201csees,\u201d \u201cshould,\u201d \u201ctargets,\u201d \u201cwill,\u201d \u201cworking,\u201d \u201cwould,\u201d or other words of similar meaning. All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corporation\u2019s filings with the Securities and Exchange Commission. Alcoa Corporation disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230315005407\/en\/<\/a><\/span><\/p>\n

\nInvestor Contact:
\n
James Dwyer
\n
412-992-5450
\n
James.Dwyer@alcoa.com
\n<\/a><\/p>\n

Media Contact:
\n
Jim Beck
\n
412-315-2909
\n
Jim.Beck@alcoa.com<\/a><\/p>\n

KEYWORDS:<\/b> Australia\/Oceania Australia United States North America Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Machine Tools, Metalworking & Metallurgy Mining\/Minerals Manufacturing Natural Resources Machinery Steel<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Portland Aluminium joint venture in Australia to reduce production PITTSBURGH–(BUSINESS WIRE)– Alcoa Corporation (NYSE: AA) today announced that the Portland Aluminium smelter in the state of Victoria in Australia will begin to immediately reduce its overall production due to operational instability. Production at the smelter will be reduced to approximately 75 percent of the site\u2019s total consolidated capacity of 358,000 metric tons per year (mtpy). Alcoa\u2019s share of the total capacity is 197,000 mtpy. The smelter, which has a total of 408 pots, had previously been operating at about 95 percent of its total capacity. The smelter has recently faced instability and challenges related to the production of rodded anodes, which are necessary to convey electricity into the smelting pots. … <\/p>\n

Continue reading “Portland Aluminium joint venture in Australia to reduce production”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-740135","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPortland Aluminium joint venture in Australia to reduce production - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/portland-aluminium-joint-venture-in-australia-to-reduce-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portland Aluminium joint venture in Australia to reduce production - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Portland Aluminium joint venture in Australia to reduce production PITTSBURGH–(BUSINESS WIRE)– Alcoa Corporation (NYSE: AA) today announced that the Portland Aluminium smelter in the state of Victoria in Australia will begin to immediately reduce its overall production due to operational instability. Production at the smelter will be reduced to approximately 75 percent of the site\u2019s total consolidated capacity of 358,000 metric tons per year (mtpy). Alcoa\u2019s share of the total capacity is 197,000 mtpy. The smelter, which has a total of 408 pots, had previously been operating at about 95 percent of its total capacity. 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